June 3, 2015 / 11:22 AM / 5 years ago

Iran confident OPEC will 'coordinate and consider' post-sanctions output rise

Iran's Oil Minister Bijan Zangeneh attends the OPEC seminar ahead of an OPEC meeting in Vienna, Austria, June 3, 2015. REUTERS/Leonhard Foeger

VIENNA (Reuters) - Iranian Oil Minister Bijan Zangeneh speaking at OPEC International Seminar in Vienna on Wednesday:

* “We believe that Iran’s return to the market gradually will be done, it doesn’t need so much time. Immediately or a month after lifting the sanctions we will pump half a million barrels a day, after 6-7 months we will reach 1 million barrels”

* “I’m sure that OPEC member countries will coordinate and consider Iran’s return to the market, and finally this return will not have a negative impact on the market.”

* Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) meet on Friday in Vienna.

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